January 11, 2023
- USDC shows a lot more activity compared to last week as it is now a net-sell at $497k.
- Although no transaction is greater than $1 million, there is a small jump in activity. USDC and USDT (both stablecoins) are the top two coins.
- Whales have continued to deal with stablecoins as a risk-off move to prevent potential losses. The ongoing market conditions have led crypto whales to avoid riskier assets.
In sum, we are now in the second week of 2023 and it looks like whales have continued to play it safe for now as they remain on the sidelines of the fluctuating market. It is important to keep up-to-date with whale activity because we may want to follow where they go.
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